Light Crude Oil Futures (Weekly Chart): Light Crude Oil Futures (Daily): Key Levels and Analysis: Trade Considerations: Market Sentiment:
Tag: stock market
Nasdaq futures (NQ) sell-off in volume spike
Weekly Chart The weekly chart shows a strong uptrend with the Relative Strength Index (RSI) reading above 60, this is still strong bullish momentum. The volume on the weekly has been consistent as the trend continues to make higher highs. For traders looking to join the uptrend, a pullback toward the RSI-based Moving Average (MA) Read More…
Equities End Mixed as All Eyes Turn to Consumer Inflation
US equities ended Monday mixed as investors prepared for the release of the all-important US consumer inflation report. The Nasdaq and the S&P 500 ended the day slightly lower. Meanwhile, the Dow rose slightly. Monday was a relatively quiet day for equities as investors mostly stayed on the sidelines awaiting the inflation report. However, the Read More…
Gold Futures: Decisive Breaks and Key Levels to Trade
Weekly Chart Analysis of Gold Futures The weekly clearly shows the market is consolidating. The Fibonacci retracement levels from the recent swing high and low indicate that the price is hovering around the 100 level (previous all time high). Bulls still need to see a decisive break above this in order to continue with the Read More…
Are Nasdaq futures (NQ) overbought?
Weekly Timeframe Analysis:On the weekly chart, we can see price has been in a solid uptrend since the beginning of the year. The Relative Strength Index is currently in overbought territory. Despite the overbought RSI, we should consider the prevailing uptrend as the dominant force until price action suggests otherwise. Daily Timeframe Analysis:The daily chart Read More…
Technicals get out of hand in S&P 500 futures (ES)
Weekly Chart Observations: ES has been getting out of hand lately and just continues to rally no matter what. The Alligator indicator has the Lips (4821.50), Teeth (4733.71), and Jaw (4631.17) fanning out, which confirms the trend strength. Taking shorts now is highly risky and the only thing that could stop this market from going Read More…